An Enrolled Agent will take care of your IRS problems for you. If you received a letter from the IRS, it is recommended that you contact a tax lawyer, an enrolled agent, or a CPA right away. What is the difference between a tax lawyer (IRS lawyer) and an enrolled…


What is new in 2020 tax returns?

IRS tax forms change all the time.

The most beneficial way to find the latest forms is:

- IRS.gov/latestforms
- IRS.gov/allforms
- IRS.gov/draftforms
- IRS.gov/formchanges
- IRS.gov/formsupdates

Sometimes forms are not updated by the April 15th. You can view a draft of the form to see approximate expectations of what might be new and changed. For example…


Tax Services Online

What’s new in 2020 tax?

Let’s recap 2020 deductions from adjusted gross income:

jury duty199A deduction capital lose unemployment benefits repayments foreign housing (limitations applies)unreimbursed travel expenses (National Guards and Reserve members)certain attorney fees unreimbursed employee expenses self-employment medical insurance certain moving expenses (limitations apply)50% SE tax now you can deduct alimony and maintenance payments (comparing to 2019)contribution to retirement accounts and/or HSA higher education expenses deductions educator expenses

Tax brackets are:

10%, 12%, 22%, 24%, 32%, 35%, 37 %

Child unearned income is continued being taxed at

$0 < $1,100 =0%$1,100


I'm Being Audited.

You can be audited by:

mail, you visiting an IRS office, the IRS visits your office.

What are your options:

you can agree with the audit opinion respond with a written protest (file an Appeal)

https://www.irs.gov/appeals/preparing-a-request-for-appeals More information about the appeal request

You may submit a Small Case Request if the entire amount of additional…


Will My Wrong Tax Return Be Flagged by the IRS and Possibly Charge me Criminally?

As not that many people know, a lot of people and companies work in the business of bringing whistleblower case to the IRS and get paid well doing it.

People always need extra money and especially extra big money. There is never enough money no matter how much you have.

Why can…


As not that many people know, a lot of people and companies work in the business of bringing whistleblower case to the IRS and get paid well doing it.

chainlink

People always need extra money and especially extra big money. There is never enough money no matter how much you have.

Why can others cheat the system while you pay taxes from your hard-earned money and have less left after taxes?

Some people can get triggered by this unfair course…


Tax Deductions 2020

Energy credits for home and vehicle:

(IRS source) Internal Revenue Code Section 30D provides a credit for Qualified Plug-in Electric Drive Motor Vehicles, including passenger vehicles and light trucks. For vehicles acquired after 12/31/2009, the credit is equal to $2,500 plus a car that draws propulsion energy from a battery with…


Energy credits for home and vehicle:

(IRS source) Internal Revenue Code Section 30D provides a credit for Qualified Plug-in Electric Drive Motor Vehicles, including passenger vehicles and light trucks. For vehicles acquired after 12/31/2009, the credit is equal to $2,500 plus a car that draws propulsion energy from a battery…


If you are

  • a US citizen, a Green card holder, a US organization
  • have an interest in a foreign account, foreign entity, have several accounts, have signature authority, foreign stock or securities held in a foreign bank, indirect interest in foreign assets through an entity, foreign mutual funds, foreign-issued life…

What does the U.S. tax code say about college tax credits? 26 U.S. Code § 25A.American Opportunity and Lifetime Learning credits

The code says, there are two credits that shall be allowed against the tax imposed by this chapter for the taxable year the amount equal to the sum of…

Tatiana Loughman, EA ChE

USA Tax Advisor. USA Enrolled Agent. Chartered Economist. www.78MyTax.com www.LetterIRS.com www.TaxesProblems.com

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